Rampai Court Phase 2 Land Grab :

The current management has requested the owners of Rampai Court Phase 2
to allow them to solicit proposals from developers for sale or redevelopment of our 6.6 acres of our land.

i have no means of contacting all 560 owners of the land title of the apartment scheme but would advise all owners to
consider the following before negotiating with any land owners or developers eyeing our land.

Before committing yourself to any negotiations,please note that the land and buildings must first be valued by a trusted Valuer.We must know what the market value of our land before we make decisions.

Here are some figures to guide you :

1) 6.6 acres x 43,560 fs/acre X rm650/fs (comparative rate) = rm186,872,000.00
2) 6.6 acres x 43,560 fs/acre X rm 750/fs (current or residual rate)=rm 215,622,000.00
3) 6.6 acres x 43,560 fs/acre X rm 850/fs (future rate ) =rm 244,391,000.00.

The above are land prices that future developers of the 6.6 acres are willing to pay to develop the land into high density developments to replace the current low density ones at 80 units/acre.

Based on the land values above each co owner of the land is worth

1)186,870,000 / 560 = rm333,700.00
2) 215,622,000/560 = rm 385,039.00
3) 244,371,000/560 = rm 436,377.00

Note that the property value is not based on the selling price of the 30 year old apartments but on the potential of the land.
The land value remains even if the apartments turn to dust in the future or are levelled to the ground.In the meantime the apartments have not been condemned and are still habitable and can fetch rentals worth more than 100k for the remaining 10 to 15 years of their lifespan.So the transfer price of each unit owner is worth another rm 100k.

Possible Gross Development Value if redeveloped :
400units/acre x 6.6 =2,640 units maximum.

2,640 units x avearage 1000fs/unit x rm500 /fs selling price =
rm 1,320,000,000.00

Note that to most developers land prices are usually capped at 20 % of Gross Development Value.

Future Developers can easily make rm100k per unit from medium cost apartments based on above land values.

DBKL is very supportive of redevelopment of low density developments to high density ones with multi level car parks especially the walk up apartments in Wangsa Maju and the low cost walk up flats.

They do not consider the problems of high rise apartments when faced with poor maintenance and unhealthy crowding of people on land.

Rampai Court is probably one of the last developments in Wangsa Maju with the ambience of low density development
with clean air,some open space and greenery ,less maintenance problems and among the last of affordable housing below 300k and rentals below rm1k and is sustainable for at least another 15 years with good management.Rentals are still good with 4 % return provided the units are renovated.

Please consider the above and dont allow yourselves to be short changed and cheated.

This post has been edited by Rampai Court Resident: Feb 28 2018, 07:39 PM

Rampai Court is FREEHOLD?. is it?

What's the offer price from developer

Probably developer will exchange rm100k plus 1 unit to existing owner

DBKL also tend to aim sri rampai for new flat building at the primary school area there !!

This post has been edited by Rampai Court Resident: Feb 15 2018, 12:45 PM

You have the figures spot on.

This post has been edited by Rampai Court Resident: Feb 16 2018, 01:39 PM

You are correct.Rampai court phase 2 sits on 6.6 acres of freehold land.
No matter what natural disaster befalls the area you will still be one of 560 shareholders of this piece of valuable freehold land
forever.

This post has been edited by Rampai Court Resident: Feb 16 2018, 08:41 AM

Rumours are the same MCA developer wishing and failing to gasak Wangsa Maju Phase 2 E by offering 300K per owner .They want to offer rm350k in Sri Rampai Phese 2.
The same developer is targetting the Sri Rampai 4 storey low cost flat redevelopment and also the 4 story low cost flats redevelopment in Jalan Tun Razak.
Pretty soon they will run out of empty units to house people who wish to swap their titles for future units or may have to house them
in horrible places like Teratai mewah or old Klang road.
Be wary when a Developer bites of more than it can chew,remember the fate of the great Pandan Developer Talam Group.
After surveying developments in Setapak,one cannot possibly buy a new unit below rm400K because most units exceed 1000 fs,
although there may be places available more than 20 years old such as Sri Pelangi or Alpha.
None of the alternatives are located in a nice residential area with clean air and good location and public transport.
Rampai Court phase 1 which is close to completing negotiations have eve higher value as they are lower density than phase 2 at 80 units/acre,therefore land value divided by share holders is closer to half million.
That is why they can exchange land titles for a future 1200 fs unit which in 3 years will probably be worth 500-600k based on the middle range selling price of rm500 per fs.
Consult the experts before selling land and do a valuation first.be very careful with JVs,many developers can go broke and suffer cash flow problems.Remember there are only 40 figures in Malaysia worth more tham rm1 b in Malayisa,officially.

MCA developer? Lol

Rampai court seems like it's an old building. How many owners do you think will hang around in LYN? Might as well print out leaflet I'm three languages to inform them about this then just slip into their unit.

One has to be very discreet about it.In phase 1 ,the majority agreed to exchange.A few old people living out their remaining years chose not to agree.So the majority made life very difficult for them,like scratching their cars,puncturing their tyres,hissing at them etc
to intimidate them to move out.I've tried to advise them and they are scared shitless.
Most owners of phase 1 are landlords struggling to rent out and have no more interest in the place.you should know how greed and money can turn people into monsters.
This is what happens to strata residential developments when residents committees take over and ruin the whole housing with mismanagement and corruption.It can happen in any high rise housing like say Teratai Mewah or Genting Court.
the way I see it,in today's housing market with oversupply of high end units,properties will find it difficult to appreciate in value but prices will remain stagnant with obsolescene and bad management and in same cases after 30-40 years will become ghost apartments or slums and eventually condemned and redeveloped.
The good thing if you are a co owner of freehold land is that the land value will always appreciate,not the apartment.
Spread the word around and hope more people will be sing mok.

Wah FREEHOLD also so headache wan ar...? I thot ppl say freehold is no worries wan...

Land may be freehold but buildings deteriorate over time and become inhabitable after maybe 40 -60 years.
look at the condition of 40-50 year old residential buildings like Sun Complex,Choo Cheng Kay and Sam Mansion for example.
Eventually after 50 years with no renovation or upgrading and poor management the whole building might be abandoned
and have to redeveloped or land sold off to make way for new developments.

all 560 land owners of Rampai Cort Phase 2 please note.They have informed that during the AGM on Sunday 11 th March 3.00pm at the playground,they want us all to give them the mandate to solicit proposals from developers to redevelop or buy over the land.
Imagine, a management which spends its time behaving like a broker trying to negotiate land deals instead of serving the residents staying there and solving problems and trying to make the living environment better.
Do what is necessary to protect our common interests.

This post has been edited by Rampai Court Resident: Feb 16 2018, 12:52 PM

I was told if 75-80% of the resident agreed to sell, the whole acquisition will be materialize
But I not sure whether true or not

It must be true for DBKL projects ie.projects developed and administered by DBKL because that was what happened to Wangsa Maju Phase 2 E after the MCA Developer failed to get more than 75 % of Wangsa Maju flats run by DBKL on a rm30 monthly maintenance fee to agree sell out.
It is not true for private developments because the mother of all land laws the National Land code says that one caveat alone or refusal to sell is enough to block all transactions of the master title.All strata titles of the scheme must be surrendered to land office to be amalgamated back to just one master title before the development can be processed by the Land Office.
That is what is happening in Jalan Tun Razak's Desa Kuda lari Codo when a few strata owners refuse to sell out.
it could also be true for the nearby Raintree club where there are proposals to sell the club land jointly owned by club members(this is a case where the club is owned by members not just by users owning a licence to use the club)
There are however proposals to amend the national land code to empower compulsory acquisition by means of a majority of supporters instead of agreement of 100 % of the joint owners.We must never support that mentality,its like saying that just because 70 % of a country are Muslims they have a right to tell the minorities to close their Chinese schools or use anything that is haram.
in other cases even if the 100 % is not met,the others will intimidate sabotage or harass the rest to move out by simply stopping the services such as not maintaining the lifts,and not repairing faulty electrical or water supply to those remaining.

The current minister for KL is going all out to convert KL into a concrete jungle and you see it in Bukit Kiara or Taman Desa .
Unlike the past DBKL which encourages healthy living with tasteful and healthy living environment,the current one is very Developer friendly and wants to do more business collecting more assessments and Development Charges on new developments.
if your home is located on low density development more than 30 years old with ample open space and open car parks,you are fair game for the developers to grab your land.

This post has been edited by Rampai Court Resident: Feb 18 2018, 05:56 PM

That is why a lot of malay land is undeveloped.Imagine passing on land ownership from man to four wives and their children and granchildren,not all of them will agree what to do with the land.
That is the problem facing redevelopment of Kampung Baru where everyone wants to be a millionaire overnight.
If you are a fan of fast change and redevelopment,follow China where all land titles are restricted to 33 year old leases or Sarawak with 66 years.

This post has been edited by Rampai Court Resident: Feb 16 2018, 02:25 PM

Redevelopment beside could unlock the value of the land, it will bring existing property to a new level. As long as stakeholders are fairly compensated, one should embrace.

Happy cny

One should not look at everything from a dollar and cents viewpoint.
Developments in the 90s were fairly well done with moderate density and plenty of open spaces
and under decent planning guidelines.
But development in KL today is based only on maximising profits
and achieving maximum density with the collaboration of DBKL which wants to earn maximum income.
Look at some developments which are a nightmare like those new ones in Gombak or Prima Setapak area, they are nothing more than 40 story rectangles and boxes.They are not residences but service apartments on top of multi storey car parks,shopping centers and even offices and hotels.Definitely not a good place to bring up a family. They are out only to make profit,not to provide the population with a good living environment.Moreover they create massive traffic jams and do not offer clean air and greenery to counter the polluted air,with many of them located next to factories in industrial areas.
Even Beijing recognises the problem is trying to improve the quality of life in Beijing.
Imagine what happens if lifts break down or water supply is disrupted or what happens later
when they are not properly maintained and end up like London's Grenfell Tower.
if your life is all about unlocking values of land and compensating stakeholders with money,you must be like one of our neighbours
living in the apartment complex.Neighbours claim his 14 year old son was creating a nuisance by scooting around the area with his motorbike and may injure someone or cause an accident.His reply was that he was rich and is prepared to pay for whatever damages and injury caused by his 14 year old son,like you he thinks everything in money terms and any casualties along the way fairly compensated.
That is why his son will probably one day grow up to be a Bank Robber or Umno Klepto or maybe one of the Tan sris striking it rich in MLM schemes and Ponzi schemes.
Or maybe emulate the ancient uncivilised VVIPs and Warlords who seize peoples' wives and daughters and rationalise its ok after they compensate victims fairly with a few bags of rice?after all your wife and daughter are now more prosperous living with rich and powerful people and their true values unlocked and maximised: :

This post has been edited by Rampai Court Resident: Feb 17 2018, 03:16 PM

Good idea.
Why not demand that DBKL unlock the real value of Merdeka Square ,Taman Titiwangsa,
Bukit Nenas Forest Reserve ,FRIM,Bukit Kiara or Lake Gardens,all the schools,hospitals,churches,temples,mosques etc and allow mega Mixed Developments to be built there and unlock their values so that Developers and DBKL can make more money in a win win situation.
They sit on prime locations and we should unlock the value of these prime land,as long as the public is fairly compensated with air con spaces within these developments in place of oxygen produced by greenspaces..So long as money is made we should happily embrace it.We should rename DBKL's Town and Country Planning Division as Land Value Unlocking Division and abolish Environmental and Social Impact assessments altogether.

This post has been edited by Rampai Court Resident: Feb 16 2018, 05:39 PM

This post has been edited by Rampai Court Resident: Feb 16 2018, 05:20 PM

In the case of the adjacent Phase 1 Development (where negotiations are close to completion)which is 240 units on approximately 4 acres,a low density of 60 units per acre (my guess only) ,the figures would look like this :
Land value : 4 acres x 43560fs/acre x rm 700/fs = $121,968,000.00

This means esch of the 240 co landowners is worth : rm500K at LEAST
The developer offered each owner to swap a future 1200 fs unit worth at least rm600k (@rm500 /fs) pluse 3 years rental paid while they stay outside for the project to be completed.

Some of the handful of owners who refused to move have been offered service apartments nearby worth rm400k as compensation or cash rm400k as compensation.
The few remaining owners are retirees and senior citizens who bought the units 30 years ago and know fully well a compensation of rm400k cannot buy anything in the area with its green and convenient location without having to live in a foul oxygen deprived 40 story pigeon coop.
Unfortunately people in phase 1 were in a hurry to rush into negotiations,if they had waited they could easily find a Developer with stronger financial background and track record to contract with.
Dont be surprised that many tycoons can easily afford to pay rm121 m cash for the land if you put it up for tender.
I leave it to you to conclude whether the people of Phase 1 got a good deal.
When approached by businessmen to buy over land or JV,be smart,make a valuation of the land first,open negotiations out for tender to avoid hanky panky and stay clear of shrewd shifty businessmen and their cohorts merely out to maximise profits with no social responsibility and ethics.Have all data and figures verified by professionals.Who knows what will happen to the property market in the future or if the project may run into financial problems as has happened before.
Also make use of the police and MACC should transactions not be carried out above board or in a transparent manner,after all several managers of management corporations have recently been jailed for bribery and corruption.

This post has been edited by Rampai Court Resident: Feb 17 2018, 06:25 PM

Co owners of RCP 2 please do your sums :
Your apartment may only be worth rm300k at most now.
But even if you leave it unrented for 10 years you just have to pay maintenance of rm110 plus water bill,IWK,quit rent and assessment all total
at most rm2k per year which works out to rm20k after 10 years.
In 10-15 years the place might be abandoned or unfit for occupation but you will still be able to sell the land at rm 400-500k per shareholder or more.
In the 10 years after you sell out now,the developer can still do some renovations and house temporary tenants waiting for their homes to be completed elsewhere by the developer saving the developer at least rm36k per house every 3 years based on a rental of rm1 k per month and do it 3 times over in the 10 years and saving rm100k in rentals they have to pay for temporary accomodation for their swap buyers.Thats almost an additional rm100k in rental income to the developer.
if you still can rent your house in the next ten years it is a bonus and can add almost rm100k to your income.How many afforadable apartments are there left in Setapak that can be rented out for rm1K?
Think about it,unless you are really desperate for quick cash.
You can of course expedite the deterioration and end of the housing scheme by renting it out to Myanmars and Banglas
and uncivilised people or put incompetent people to mismanage the place.

This post has been edited by Rampai Court Resident: Feb 17 2018, 09:31 PM

Hi, My family owns a unit in RCP2 Block A.

I attended the recent EGM on regards of increasing maintenance fee and redevelopment,
And while I agreed for redevelopment, I cant help but feel the results are bias towards a developer.

Look at the comments about Phase 1 two above your post.Dont be surprised about raising maintenance fees as the normal collection is hardly enough to cover costs.
There is also a general apathy amongst owners as most have moved out and are only collecting rentals.
If I were in your place I would negotiate with a big name and branded Developer willing to offer cash at
rm500K with no risk and cash in or use the money to buy newer properties in the market.Properties are unlikely to appreciate much like before because of the glut especially of high end condos.You cant buy anything new below rm400k and less than 900 fs in area.
Developments often fail because of cash flow problems especially with managers with poor cash flow management skills,
the most famous being 1 MDB.Why put your property at the disposal of entities that are not fully trustworthy?
I heard the developer is willing to swap 1200 fs units worth at least rm500k and you have to draw lots.
A bird in the hand is worth two in the bush.
Redevelopment would mean the density would be increased 4-5 times with a building up to 40 stories
and no more clean air,landscaping and greenery and huge traffic jams and once again the failure of a good resident committee to manage the development well.
There are already Developers ready to offer 100% cash for your land and buildings.You know the value of the share of the land,the old buildings can be used by the Developer to house people displaced by the redevelopment of Bandaraya flats nearby for at least another 10 years.After they are vacated the land can be developed.

:

This post has been edited by Rampai Court Resident: Feb 18 2018, 02:09 PM

Go and get a fair deal.

Sit on the initial offer if you feel uncomfortable.
Demand that the fixers and organisers brokering the deal call for other offers
from other Developers just like in transparent Open Tenders and make comparisons
and get the best deal just like buying all other expensive goods.
But before that value the land and buildings.
remember that as it is as co land owner you may be worth rm500k or more,before redevelopment ,after that
you get a unit of about rm500K,but 40 years later,when the new building deteriorates,your value as co-land owner drops to 1/4 if you have to share the land with 4X more landowners.It is unlikely that the land will appreciate further unless it has commercial value.Future owners of the redeveloped land will have to pay developers to redevelop the future high density units eventually:
You can bet your bottom dollar that many developers who are now scouting for land in Setapak can easily afford to pay you at least
rm500k cash for the share of the land.Any real estate agent would be able to broker alternative deals.

This post has been edited by Rampai Court Resident: Feb 20 2018, 08:19 AM

https://www.hba.org.my/news/2009/08/managing.htm

Wow, so many owners want to sell.

What is up ??

Desa Kuda lari is going to be the first project in Malaysia where 90 % of the strata title holders agree to sell their land enmasse to bidders.Note that the process has been carried out by bidding and in a very professional manner.

http://www.theedgemarkets.com/article/desa...raws-12-bidders

This post has been edited by Rampai Court Resident: Feb 20 2018, 03:07 PM

http://www.focusmalaysia.my/Assets/act-to-...ale-much-needed

http://www.theedgemarkets.com/article/desa...e-history-again

Problem of redevelopment

This post has been edited by Rampai Court Resident: Feb 20 2018, 01:43 PM

http://raintree.com.my/thestar-article/

https://www.propertyguru.com.my/property-ne...se-sale-delayed

https://www.thestar.com.my/business/busines...-desa-kudalari/

"CBRE-WTW deputy managing director Danny Yeo noted that the last transacted price in the project stood at RM1,250 psf in a sale done in 2015. The firm noted that prices in nearby projects stood at RM3,573 psf.

Based on CBRE-WTW’s calculations, the RM1,250 psf transacted price works out to a land price of RM960 psf. This is a far cry from what unit owners could receive from the en masse sale, based on the indicative value of RM2,000 to RM3,500 psf."

If the seller in 2015 had not sold his unit at rm1250 per fs which translates to a land value at Rm960 per fs,he could have sold it now at rm3000k per fs as co land owner and collected rm6 m as opposed to 1-2 miillion for his 850 FS unit.

The enmasse sale of 90 % of the units means that the buyer becomes the new owner of the condo and will manage the condo.Use your imagination to think how the remaining minority owners will be treated.
Redevelopment still cannot proceed until 100 % of strata titles are surrendered to be amalgamated into one master title.
Notice that in this case,the bidders do not buy the land ,they just buy up 90 % of the old condo units and become the majority share holder of the land.Those who sold their units do not realise the full value of their share of the land.

This post has been edited by Rampai Court Resident: Feb 20 2018, 07:39 PM

"Wow, so many owners want to sell.

What is up ?"

Because the layman cannot distinguish between house prices at market rate
and the value of the land in terms of the share portion owned by the unit owner ie.unit rate and land value of each unit

By now the reality must have set in.Unlike landed properties or low density dwellings likely to deteriorate in building's value but appreciate in land value,high density condos like cars will have no upside for appreciation,after 30 -40 years the building is condemned and the share value of the land price by the unit holder becomes a fraction of the house price,as too many co-owners have a share of the land.
this means that people in their 20s and 30s owning and mortgaging a high density condo today will have to put up money again in 30-40 years for a new condo as the residual land price after the condo is condemned cannot cover the price of a new condo.
Which also means that it wont make much sense to own many condos all at one time,as they will depreciate like cars.
This will probably cause a fall in the prices of condos,more compact units and more affordable condos

This post has been edited by Rampai Court Resident: Feb 20 2018, 08:39 PM

Well say. the current KL city mayor is turning the whole KL to be a concrete jungle which eventually everyone will suffer not only caught in jam but empty highrise with no one stay.

and he even threatened to sue when Teresa Kok called him the Developer's Minister.
The people in TTDI deprived of their Kiara Park and the people of Taman Desa
who had their playground converted into a high density condo must really know him too well.
Its a case of a shifty businessman appointed to be a FT minister.

I know which MCA related developer u talked about....indeed, this developer is famous in mass production

I know which MCA related developer u talked about....indeed, this developer is famous in mass production

Also famous for building rental type apartments for students and for for investment.
You can recognise the designs everywhere,even to the yellow and white exterior,
probably using the same drawings for every scheme.
But they are overdoing it in Setapak as student population here is shrinking,should move more to Sungei Long or
Taman Connaught.
They are building more useful things though,not like another one who builds absolute high density 40 storey mixed development monsters .
Mainly using their MCA contacts to rub shoulders with DBKL to redevelop DBKL's walk up flats and apartments in Wangsa Maju into
high rise monsters.Probably looking around to buy over cheap housing nearby to temporarily house DBKL low cost flat owners waiting for their redevelopments to be ready.

This post has been edited by Rampai Court Resident: Feb 20 2018, 10:10 PM

Platinum Victory?

Thinking of buying a couple of units for investment.

Worth it ?

I want to hear your opinion.

My family also own this club membership since it's founding year 1983. Also another situation where there's old members versus new members in the debate of selling the club and land.

Well say units are transacting in the market for rm300k.
You know very well the land value per unit already higher
than rm300k.You can imagine what will happen when bids are open for the land.

But you must distinguish between phase 1 and 2.Phase one (blocks a,b,c) which has higher value is already in some commitment
Phase 2 with higher density and lower value is up for grabs.I know of many Phase 2 owners who no longer have faith in the management and have not renovated their units and are unrentable,if they are dumb enough to let go at
say rm250K ,there should be some margin eventually.
Just study and follow the case of Desa Kudalari closely.
It is a situation where 90 % of people want to sell but 10 % dont.
So the 90 % sold off the units enmasse in an open bid.

RCP 2 is a case where there are many retirees and citizens living out the last years of their lives in a
serene,healthy and relatively tolerable environment not found elsewhere and the situation can only change
in about 10 years when they are no longer there and the buildings near the end of their lives.

If you ask me,just scout for low density condos built in the 80s at the end of their building lives
say in old klang road,Jalan Loke Yew ,Jalan San Peng or Pudu waiting to be condemned and redeveloped.

This post has been edited by Rampai Court Resident: Feb 22 2018, 10:45 AM

Sounds about just right. But seriously PV's design is the just same all over the places.

Maybe in future their industrialised design may become as famous as the landmarks of the old system buildings
in the Jalan Pekeliling flats already demolished.
After all given today's building standards and lack of maintenance culture they would be ready to be condemned
in 30 years and owners have to buy another apartment supplemented by what little is left of the land value
because of the high density, just like they would change their cars.
That is the disadvantage of unlocking land values,there is no more remaining upside potential for investors.

Development in urban areas is now like that in UK.There is a shortage of land unless you count hillslopes and green reserves.So like in UK,like the Battersea project they are going for redevelopment on abandoned or condemned buildings.
They call developments on new areas green sites and redevelopment
of old projects brown sites.

Wake up people and stop chasing after those expensive high end high density condos in the Klang Valley with ridiculous prices which are already out of reach of the majority.
Unlike landed property or condos located near commercial areas capable of being converted to commercial use like Desa Kudalari,their land values will not appreciate because it has been maximised and when the building needs to be redeveloped in 30 -40 years time when you are near retirement,you have to sell off the land at a fraction of the price of the unit you bought because the land is shared by thousands of co owners.The property price will not appreciate much and will remain stagnant after 20 years because of obsolescence and poor maintenance,and when you reach retirement you will have to fork out a few more hundred thousand to buy a new one,or move to a faraway village.Forget about leaving the condo to future generations,its like passing down an old car.
Its not like those who live in terrace houses and other landed property who dont share their land and whose property prices continue to appreciate even after 50 years because the house itself can easily be rebuilt on the valuable piece of land.
Its time to shed the myth that condominiums can be good investments because trends confirm they are not,instead they are wasting assets just like cars.The exceptions are those with affordable prices in good areas which can fetch reasonable rentals to cover the capital investment within 20 years.The situation gets worse if the residents do not manage the condos well,as it is most Management Corporations are incompetent and corrupt and not professionally run,they will degenerate even before their 30-40 year old life span,eventually serving as crowded hostels for foreign workers or become chicken farms like in the past.
Even most condos fetch returns of about 4 % on capital on average so the money can be better invested elsewhere.
So,spend your extra money on that gated bungalow you plan to retire in somewhere in Pahang,Perak or Johore.
The only people laughing all the way to the bank are the greedy developers out to maximise profits.
For the last few years Developers have been earning profits of 40 % and giving crap to consumers,so lets wait for prices to come down to their REAL values.
SPEND YOUR HARD EARNED MONEY WISELY AND BE SMART!


This post has been edited by Rampai Court Resident: Feb 22 2018, 12:47 PM

It is no wonder that the Johore government is so willing to allow a China Developer to reclaim land and build high rise FREEHOLD strata properties for sale to foreigners.Unlike HDB Singapore with a sustained maintenance culture,in 30 years all the high rise buildings will become slums and abandoned with the owners forced to sell their land at a fraction of the value of the residence they bought and the land bought over and redeveloped.
No wonder the China government wants to stop their people from buying nonsense as investments in foreign lands.
The people who stand to gain from selling all these strata properties are the developers,the Local Government with their Development Charges and Assessments and Quit rent,.the Federal government with their GSTs and stamp duties and the utilities companies like TNB and JBA with their contributions and running charges and of course the land owner collecting his share of profits.
Only dumb Johoreans will want to compete with even dumber China people for putting their laundered money into such useless wasting "assets"
Landed property though is altogether something else.
This is also how places like Dubai can turn deserts into pots of gold.
In the meantime lets focus on buying the affordable homes that offer real value and let the people with too much money burn themselves with the luxurious hype condos and Ponzi schemes and let greedy syndicates flipping condos lose their underwear.


This post has been edited by Rampai Court Resident: Feb 23 2018, 11:56 AM

Yeahh.....what a relief i didnt buy Tropicana Tropez Residence last time.

There are recent rumours,maybe fake news on the ground that DBKL has bulldozed thru the redevelopment of their 5 story mediun cost flats in section 2 E of Wangsa Maju,despite the fact that less than 80 % agree.
so we will soon have a lot of redevelopment in Setapak with 30 storey monsters in Wangsa Maju section 2 E,Sri Rampai 5 storey low cost flats,Jalan Tun Razak low cost flats as well as the private rampai court phase 1 (blocks abc)and of course bad air,traffic jams and extreme heat.And Jabbar the Hutt laughing all the way to the Bank with massive Development charges and political contributions.
So be prepared if you are living in low density affordable housing schemes,the successful developers are looking round for cheap accomodation to house flat owners to house temporarily while they wait 3 years for their new high rise flats.Later on they can develop the land or maybe even sub sale the land and make more profit.
Whatever you do,dont be a fool,get a licensed valuer to value the land and buildings and call for competitive bids for the land instead of being short changed by the sneaky developers and even more ruthless DBKL.
Its your land and nothing can be done until you surrender your strata title .The only exception would be if it is a DBKL managed project when DBKL can easily wash their hands of you by abandoning the management.

This post has been edited by Rampai Court Resident: Feb 26 2018, 07:58 PM

People of Wangsa Maju dont let go of the fact how DBKL washed their hands off you in providing affordable medium cost housing
for the poor come Ge 14 and remember to tell Jib and Jabbar the Hutt what you think of their plans to turn Wangsa Maju into a crowded high density nightmare with the collaboration of the MCA.
Since he and Jabber loves concrete jungles and pollution crowding and global warming,he should do it all in Putra Jaya ,the place built by his musuh ketat.


This post has been edited by Rampai Court Resident: Feb 27 2018, 01:52 PM

https://www.thestar.com.my/metro/metro-news...n-areas-withou/

Note ; this is about commercial properties like office space near LRT stations.



This post has been edited by Rampai Court Resident: Feb 28 2018, 10:20 AM

To all residents of Rampai Court Phase 2 :
On 11th March 3.00pm at the AGM in the basketball court near the MCA building in Taman Sri Rampai,do not give the mandate to the management to negotiate with potential Developers on redeveloping Rampai Court until they can prove that they know what they are talking about and their claims that the apartments are condemned,they are not.
Before any negotiations,we must know our own worth and this can only be done if the land and buildings are first valued by a registered valuer and the value used as a basis for negotiation .
Dont forget the land cannot be transacted unless 100 % of the co owners consent.Eventually we should open up the land sale to open bidding to get the best deal and can appoint a licensed valuer to carry it out like Desa Kudalari.
We are talking about a land and property transaction worth rm250m,RM 250,000,000, or quarter Billion, which must be conducted in a transparent and professional manner and not by MONKEYS and subject if necessary to the scrutiny of the MACC for any conflict of interest or CBT .
Pass the word on as most of the owners are simple, illiterate or semi literate people easily conned by smooth talk.


This post has been edited by Rampai Court Resident: Mar 2 2018, 11:08 AM

rm250,000,000.00!

Imagine the commission you can earn from brokering such a deal!
Every broker's dream and the road to a healthy happy retirement!
Just by direct negotiation with no competition or alternative choices!
There's a sucker born every minute!

This post has been edited by Rampai Court Resident: Mar 3 2018, 11:39 AM

Glad to found this post before it happen, i am 1 of the owner of phase 2 and i will be happy enough to Refuse this proposal. There are very little low density apartment like us surviving in KL. So lets keep it and try to make it better place to stay.
BTW, the current management of Rampai Court phase 2 is so Lousy! The cleaning service has become worst, the guard staff keep changing n changing, even the boomgate keep malfunctioning!

Seem you are a lawyer or solicitor, thanks for your writing and IF you wanna print a big banner to tell all the owner the risks. I am willing to sponsor some money for the printing.

Thanks!

thanks for your response!The current management is incompetent and not qualified and like all management of apartments everywhere,guilty of conflict of interest and corruption and apathy and not performing the job they are paid to do.
Please SHARE and spread the word to other owners of RCP 2.
I agree with you that we are owning a very rare and beautiful residential property with a very high potential land value that we dont realise,and many improvements can be made with correct people,just like the past management of the place.We should not allow MONKEYS to collaborate to cheat us of our homes and properties and we deserve the best deal!

This post has been edited by Rampai Court Resident: Mar 4 2018, 08:56 AM

we should not prevent desperate owners of neglected units to sell off to developers for rm350k if they like,but it has nothing to do with the rest who choose to keep the place to stay or invest.
There will be a future boom of unaffordable flats and condos in Sri Rampai and no problem seeking tenants in the forseeable future because of other unaffordable redevelopments in the area.
Even if proposals from developers are studied,the correct thing to do is first to conduct a written survey to determine how many owners wish to sell,redevelop etc.


This post has been edited by Rampai Court Resident: Mar 4 2018, 09:01 AM

Latest news is that even alternative proposals from other developers
have been blocked from further discussion as if the MCA offer is a done deal and KAUTIM by representative of the management.
The same monkey is telling unit owners that their land is only worth rm280 K per owner and that the rm350k is a gift from heaven.
Obviously they are trying to push the MCA deal quietly just like phase 1 convincing 80 % of consenters to push out those who object.
But remember that no redevelopment can take place unless 100 % of the strata titles are surrendered.
we pay management to look after the premises not spend their time acting as brokers to sell our home and land.Dont get cheated by SNAKES and crooks! Its like Pagar Makan Padi.Dont forget to get rid of the SNAKES.
Initially the MCA deal was supposed to be P & C until an honest committee member exposed it,as though we are doing Umno business with OSA and whistle blowers discouraged.


This post has been edited by Rampai Court Resident: Mar 4 2018, 11:56 AM

Make a complain to MACC. These SNAKES must be arrested.

This post has been edited by Rampai Court Resident: Mar 5 2018, 04:24 PM

Spare a thought for the few remaining old ladies holding out against the Developer and their selfish neighbours in Rampai Court Phase 1.They are senior citizens who bought their homes here more than 30 years ago and know very well that there is no better place for them to stay even with the meagre and inadequate compensation of rm400k offered by the slimy Developer.
The owners of Phase 1 know that they are getting units worth at least 500k in future in a swap but are nonchalant when the old ladies are being shortchanged.The developer is using the greedy 90% promised a future unit to bully the old ladies and it would be poetic justice if the unscrupulous and unethical developer absconds in the future and take these selfish and ignorant people for a ride.
No one is speaking out for the brave little old ladies who refuse to give up their legit homes they invested in 30 years ago just to allow people to make more money and they are treated like squatters.No one in the media highlights their plight!
Make sure you put a caveat on the master tile if all the strata titles are eventually amalgamated,otherwise a crooked developer can just sell off the title or borrow money from the title as collateral and abscond.
but for everyone out there DO A VALUATION OF YOUR PROPERTY BEFORE SELLING IT,and do business with only reputable DEVELOPERS and REPUTABLE LAWYERS AND AGENTS,because they wont abscond and can be sued!
People thrive in Malaysia because of the Greater Fool Theory because there's one born every minute and people never learn or learn from past mistakes as seen in so many cheating cases and Ponzi schemes and MLM schemes. Moreover allowing monkeys to transact a rm 250 million deal!

This post has been edited by Rampai Court Resident: Mar 5 2018, 04:30 PM

Please do attend the meeting this weekend, i am ready for it but we need ppl like you to voice out questions and objections during the meeting.

Indeed, i do do heard ppl saying the current management is eating our own money from every repairs and jobs done.
thats is why a 30 over years old apartment is running out of money now.

LET GO!

I dont agree with you on that.The money involved is simply too small to justify the
trouble.Most of the money not well spent is caused by simple stupidity and ignorance
because of a lack of technical knowledge as compared to previous officers who knew their job very well
and were skilled and experienced enough to know how to solve technical problems without wasting money.An old house like an old car is expensive to maintain.
What is more irritating is employing incompetent people who spend our time doing their own business like selling our land instead of keeping the place in good shape and the people happy instead of neglecting the place and allowing the place to look like a slum and dumping ground with broken hardscape and mutilated plants.
Since there are people in charge thinking that the place ought to be abandoned and sold off,lets get rid of them and try out PROFESSIONAL MANAGEMENT and draw on their experience and shared resources for the remaining life of the scheme.
Whatever happens,dont depend on me,learn from this post and share the knowledge.Talk is cheap because at the end of the day you must know your rights as a unit holder and exercise that power as in Phase 1 and try to educate the ignorant and unthinking ones who are easily conned.

This post has been edited by Rampai Court Resident: Mar 6 2018, 12:53 PM

https://www.thestar.com.my/metro/metro-news...ty-water-tanks/

One of the main problems facing buildings more than 20 years old.
But it is not the end of the world.

This post has been edited by Rampai Court Resident: Mar 7 2018, 06:58 PM

"Hi, My family owns a unit in RCP2 Block A.

I attended the recent EGM on regards of increasing maintenance fee and redevelopment,
And while I agreed for redevelopment, I cant help but feel the results are bias towards a developer.'

The deal in phase 1 which is about 70-80 % done is that all unit holders well be compensated in future with a 1200 fs unit in future after they surrender their strata titles to the Developer. The catch is that these suckers must draw lots for their units whilst outsiders get to choose,IF the project is ever completed.
I would prefered to have the Developer pay me cash of about rm600 to 700k and then buy a unit of MY choice in future based on stage payments under the HDA s & p.This can be done by selling land outright instead of swapping units,any estate agent can arrange this.I can also use the money to buy houses elsewhere of my choice.
See how foolish people can be and make foolish choices if they are not properly advised.
Say no to JV Developers with promises and say yes to zero risk CASH IS KING.

This post has been edited by Rampai Court Resident: Mar 7 2018, 08:16 PM

A final reminder to Rampai Court Phase 2 residents
on the AGM 3.00 pm this Sunday :

Rumours are that the main culprit behind the hush hush land sale has several units and does not stay here,and is acting on personal interests.
Dont get fooled by Legal Talk about 80 %majority rules etc like in Wangsa Maju Phase 2 which failed,even Rampai Court Phase 1,Desa Kudalari or Raintree Club have failed,except Trader's Square which involved a row of shops.We can always consult other lawyers.The National Land Code says very clearly that redevelopment can only take place with 100% consent of strata holders,except say,Ampang Park or the Jalan Sultan compulsory acquisition for a Public Purpose such as public transport.
Just get rid of the big snake trying to con us for his selfish interests as well as several little snakes and monkeys supporting him claiming the place is condemned and unsafe to stay in and we must make way for progress.
Then we can conduct a survey what the residents really want and also conduct whatever land sales we desire professionally with whoever we select or can be trusted in future.

This post has been edited by Rampai Court Resident: Mar 9 2018, 08:58 AM

Owners of Rampai Court Phase 2 apartments please take note :

Continuous news of the land being the target of takeovers is not good news that can bring up the selling price of the old apartments.
This can be because :
1) Most investors after following news of developments and failures of acquisition of Wangsa Maju Phase 2,RCP 1,Desa Kudalari or Raintree Club realise that to get 100 % of owners to agree to sell their titles will be a very long process,maybe when the buildings start to crumble in 10-15 years.Investors will not park their money waiting for 10-15 years.
2) There are high percentages of people preferring to stay put and those who have spent a lot of money renovating their units for rental and unable even to recoup even costs after renovations
3) The dozens or so of units difficult to sell are mainly old units where the walls have not been repainted,plumbing changed or flooring changed.They are unrentable.Potential investors will not buy these units and renovate them to rent out if they think that the scheme will be sold to be redeveloped and they might stand to lose money after buying and renovating the old apartments.Continuing news about takeovers will cause all these unrenovated units to further fall in value with no one renting them because of their poor condition.
So think again if you think that rumours about land grabs can bring up property values,the opposite may be the result.It is foolish to bring down deliberately property prices and be a nuisance to others who value the place.
But the sad truth is that the land will have to be redeveloped in 10-15 years time if the buildings are no longer fit for habitation. :

This post has been edited by Rampai Court Resident: Mar 9 2018, 07:04 AM

Good news,I heard that after CNY they appointed a new management in Rampai Court phase 1 (Blocks A,B,C) and the first thing they did was cancel the agreement with the slimy redevelopment JV developer!
Lets all learn from the past stupidity of Phase 1 and do the necessary.
Trust only professionals with liability to handle management and procurement and protect yourself by knowing land laws and doing everything in an open and transparent manner clear of hush hush hanky panky.
If in doubt,get free advice which can be counter checked by pros, we have enough conmen already with their Ponzi and MLM schemes.Dont deal with or trust the evil developers with no social responsibility out only to exploit ignorant people! :
Next to save Phase 2.
Can someone confirm the recent news on Phase 1?

This post has been edited by Rampai Court Resident: Mar 10 2018, 07:24 AM

not much people noticing this post until today. so lets see what happen this sunday

I'm one of the RCP2 owner and thanks for the valuable info.

I do have some questions and doubts and hopefully someone can help address them since I no longer stay there.

1. How much does this JV developer plan to compensate each owner per unit?
2. Who is this "snake" that is lurking around? Is he/she the president of our management?
3. What is the real purpose of the coming AGM?
4. In layman term, how much in compensation is considered logical in the event of a takeover?

Cheers!

1. How much does this JV developer plan to compensate each owner per unit?
2. Who is this "snake" that is lurking around? Is he/she the president of our management?
3. What is the real purpose of the coming AGM?
4. In layman term, how much in compensation is considered logical in the event of a takeover?


1.Under negotiation if we allow it,but as cheap as possible.
2.A snake that can bite you
3.to select a new Resident Committee and to give a mandate to the committee to negotiate with developers on our behalf.
4.To answer that question read the discussion from the top and digest the details as figures have been quoted for people to evaluate their choices.For those who intend to stay,the sky is the limit. There is no answer yet because as explained again and again no valuation of the land and buildings have been carried out yet and no competitive bidding carried out to secure best price.
As proved in all other cases no takeover can succeed without the consent of 100 % of the unit holders.The more there are discussions about takeovers,the more uncertainty and less people will buy the apartments and their prices will drop drastically and remain unsold and not rented out.


This post has been edited by Rampai Court Resident: Mar 10 2018, 12:43 PM

Fight, fight, fight.

Only professional and fair deal is acceptable.

Say an emphatic NO to MONOPOLY business practice!
Say yes to open competition!

This post has been edited by Rampai Court Resident: Mar 12 2018, 08:49 AM

Just attended the agm today. Seemed like majority of owners agree?

Thanks for your sharing. Im also resident of Rampai court Phase 2 and attended the AGM today which got voided and turned into discussion of redevelopment. I have jz purchased this unit and spent alot hard earned money into renovation and buying cost. Thinking that its hard nowadays to get a low density property with free hold land and under RM 300k.
It was sad and furious to know that our management were the one who want to approach the developers for redevelopment.
Its rather unwise to move into that direction as we are holding free hold land & low density (which most developers now are using this as selling point to mark up their unit selling price to sky high amount)!
Instead of beautify our current properties and solving existing issues, the management prefers to sell out this piece of land???? Its very furious! Its unfair to those people who is staying here and only got this house to stay!
Seems like most of the people attended are landlords who no more staying in RCP2 and have other houses to stay. All seems to be rushingg into selling off the units without realizing how much loss is ahead of us!
But im totally against it!

I think we should meet up and form a strong team to Further discuss so that our home wont fall into the hands of greed soon!

Hi, i totally agree with you. Those who hush into redeveloping are NOT THE ONES STAYING HERE. And these rich fellas are disturbing our lifes. More people should know the truth! And dont let our homes fall into these greedy culprits.

Well if they want to sell out,first value the land and buildings and call for open bids to get the
best offer.
No redevelopment can take place unless 100 % of the 560 land owners agree to sell of their strata tiles,this has already been proved by the failure of 100 % agreement in Phase 1,Desa Kudalari and Raintree Club.

We can always continue discussion here or can someone open a Facebook account on Rampai Court Phase 2
and continue our discussions.
I want to repeat that no redevelopment can ever take place even if one single owner refuses to sell his/her unit,if people cannot learn from other failures,let them waste their energy.However people are free to test the market to
see what their apartments and land are really worth.

So phase 1 has already finalized the redevelopment as “no go”? Rumours still saying its in progress. Really hope to hear the real voice of RAmpai court Phase 1 resident here if there is any.

With so much money at stake; After ge, political party involved in land acquisition could amend the law to reduce consent required from 100% to 75% and value to be given by valuation department.

This post has been edited by icemanfx: Mar 11 2018, 09:34 PM

It is no surprise that the absentee landlords are open to negotiations to sell off because 30 years ago,they bought their units at rm 68k ,and today cannot sell it above rm300K.To them rm 300k is just investment recouped as they already have other homes.
I heard from the horses's mouth that only 10 owners refuse to surrender in Phase 1.
Looks like we might have to undergo the same battle as in Phase 1 where the absentee landlords bully the stubborn ones into submission and the management cooperates by giving lousy service to the few who choose to stay. Phase 1 though is not about cash sale but exchange of units in future.
Let them do a valuation,let them call for tenders for the best offer,in fact let anyone do so,at the end of the day if a few refuse to sell,nothing can be done.
I am surprised though to learn that absentee landlords out number owner/residents in Phase 2.
Anyway dont forget to remove the bad hats from the management in the next AGM.


This post has been edited by Rampai Court Resident: Mar 11 2018, 10:06 PM

"With so much money at stake; After ge, political party involved in land acquisition could amend the law to reduce consent required from 100% to 75% and value to be given by valuation department."

Indeed that is the case in Taiwan or Singapore.
In kL case,a lot of landed property would also be victims of such a new law.
That would mean amending the National Land code.This means as long as 75 % coowners of land or house or shop agree to sell the other 25 % will have no right to object.Changing fundamentally a law that has been in existence more than 50 years.
Maybe they'll even change the Constitution,no need 2/3 majority to change Constitution.
Maybe Companies Act to be amended so that minority shareholders will have no rights.
Or better still minorities in Malaysia will have no rights, the majority will call all the shots.


This post has been edited by Rampai Court Resident: Mar 11 2018, 10:36 PM

This is terrible. 😪😪😡😡 i think phase2 have more families residents than phase 1. Just that the most of them did not attend the AGM today.

I remember that in Singapore, this regulation applies to high-rise buildings only. Landed houses will not be affected by this. A member here gave an example of Uber 388 condo where it wraps around a detached house coz the owner refuse to sell it to them.

The reason for the law is due to the limited land in Singapore, so that's why any old high-rise where 80% of the owners decided to sell, then the developer have the right to redevelop it and compensate all the owners (including those who refuse to budge) accordingly.

it does make sense if the high rise building has outlived its life and become inhabitable or ready to be condemned
and become an eyesore as say the old Sulaiman Court or Jalan Pekeliling Flats and is practically deserted as were many low cost flats as in say,London.Unfortunately the reason for the redevelopment for RCP 2 is simply because of its low density where the land is capable of achieving higher density and therefore more profit.
But it is a sheer waste to get rid of four storey townhouses just 30 years old in fairly good condition and still provide conducive living and affordable accomodation.So new laws like that should also take into account other factors.As pointed out,the law in Singapore applies to VERY old buildings.
The 80 % rule managed to save Wangsa Maju Phase 2 under DBKL admin,and we have to be ready for the state of RCP2 to deteriorate in 10-15 years.RCP 1 is a situation where more than 80 % agree but those who refuse have not even been offered adequate compensation because a proper valuation was not done on the land and the small compensation is not remotely attractive and adequate to secure alternative accomodation elsewhere.
I think RCP 2 residents should allow the absentee landlords the benefit of doing a valuation to determine what is the best they can get for the apartments they dont want and in the worst case scenario,depend on the 80 % rule if it ever is enforced .At least the land ought to be valued and competitive bids made to ensure that we have the benefit of the best price.
Laws are changed to achieve justice,not simply to benefit property speculators and developers out to make a fast buck instead of protecting the rights of citizens to own their homes.Otherwise we may indeed become a very sick country which encourages greed,corruption and practice of monopoly business.


This post has been edited by Rampai Court Resident: Mar 12 2018, 04:49 AM

The only consolation for rcp2 residents choosing to preserve the place is that the mCA developer who were approached by the management to redevelop the place is rumoured to have offered rm350K per owner,rm50 K more than what they offered for Wangsa Maju Phase 2.
Knowing some of the absentee landlords,many are not interested in the rm350K as they spent a lot on renovations.
So the best thing is to value the land and buildings to determine their market value and call open bids for the best offer which could be nearer rm500k if we find a bullish buyer.
If the management wants to play footsy with the MCA developer and play out everyone and deliberately mismanage the place,we can always refuse to pay maintenance fees.We should be ready to remove the nasty conspirators of the scam.
By the time everything works out,it would have already have taken 10 years to complete the deal and older residents would have moved to old folks' homes.
Lets give credit to the cunning management for manipulating the absentee landlords to vote for the mandate,without first revealing the details and figures they already discussed with the MCA Developer.its a perfect stunt to dangle a carrot in front of the donkey to pull the cart.


This post has been edited by Rampai Court Resident: Mar 12 2018, 08:54 AM

So can i say this is a very tedious and long process to even get a quote of valuation? It might take up to 5-10 years to discuss all the proposals?
Im not very sure about the details so your sharing is very useful.

It would indeed be a long and tedious process to get everyone to agree to sell
as proved in the first test case the Desa Kudalari example or even RCP 1 case.
Even in Wangsa Maju Phase 2 E it took several years to reach 80 % agreement,and now there is news that the MCA developer is now trying his luck again in Wangsa Maju by doing a fresh survey,obviously with the encouragement of
Jabar the hutt and Najib.
it would take a licensed valuer only a month or so for a few thousand ringgit to do a valuation report of
the total value of land and buildings in RCP 2.
the results will show that at today's prices, each unit and share of land would work out to at most Rm 500K and no more.
The MCA developer will never pay more than rm350 K ,but a more ambitious and bullish one will,so its stupid and fishy to just negotiate with them,its better to get more bids from other buyers just to ensure that at least we get a fair deal .
RCP 1 and RCP 2 can still be a beautiful place to stay but not after another 10 -15 years because buildings are not designed to last more than that time.the only reason why people are selling is because of speculation and greed.
I hope everyone will read everything from the top and become proficient with the ins and outs of the property industry.
keep asking me questions,I will answer them.

This post has been edited by Rampai Court Resident: Mar 12 2018, 08:45 AM

Thanks for your sharing. I heard the same for Wangsa Maju as well. Just never aware of RCP1 case.

Hi guys, as I'm from Block A in RCP 1, as of late I've never heard any updated news regarding redevelopment in RCP 1. The last I know is that 70%+ voted for Kobay developer to redevelop RCP 1. But not sure how it went after that.

Due to work nature, i'm always late home home and early out so I dont get to actually mingle around. Last effort notice by management in RCP1 was to remove abandoned vehicles ( quite a number of them ) in the carpark. But i'm still seeing a number of them still there.

So the bottom line is this :
The desperate absentee landlords and the crafty "management" (now acting for us as property agents) can negotiate whatever they like with future Developer/developers.
We as shareholders of the land can refuse the offer,unless they change the law to say consent required only from 80 % of unit holders to sell the land outright to Developers.
In the meantime we just have to live with bad service as the function of the management has changed to that of a land broker because they were empowered by the desperate absentee landlords who may soon laugh in the face of the "management" when they discover what the actual offer from the Developers are.
Still there are many foolish and ignorant people in this world.

This post has been edited by Rampai Court Resident: Mar 12 2018, 11:54 AM

Hi, its good to hear from the actual resident of RCP1. So many rumours spreadin around. Keep sharing so tht more people are aware.

Ya. I really feel the pinch as residents when got to know the management actually want to approach developers instead of spending time to solve the current issues for the goods of RCP2. 😡😡😡